ARE WATCHING HERE BACK TO YOU.
DAGEN: THANK YOU SO MUCH
CHERYL, BLACK FRIDAY SHOPPING,
SHIFTING IN 2020, AS HOLIDAY
SHOPPING SEASON BEGINS, MANY
RETAILER OFFERING EARLY DEALS,
NOT JUST THIS FRIDAY
ANTICIPATING CONSUMERS
STAY-AT-HOME ORDER RATHER THAN
FLOODBRICK BROOUK STORES IN
FACT DELOITTE’S YEARLY POLL
SHOWS EXPECTATION MORE
CONSUMERS WILL SHOP ONLY
RATHER THAN IN FERN FOR THE
VERY FIRST TIME, JOINING US TO
WEIGH IN FORMER CEO, JOINING
THE CONVERSATION LEE CARTER
MITCH ROSCHELLE WHAT ARE YOU
ALREADY SEEING FROM RETAILERS?
>> ALL -- CHRISTMAS NOW, SALES
HAVE BEEN VERY STRONG, ALL SON
REALLY KICKING OFF WITH AMAZON
PRIME DAYS IT HAS BEEN BLACK
FRIDAY SINCE THEN, WE TODAY’S
YOODZ TARGET BLACK FRIDAY
DAEMS NOW WALMART BLACK FRIDAY
DETAILS, BEST BUY BLACK FRIDAY
HERE DOZENS OF THEM MONDAY NOT
FRIDAY.
SO THAT, A LITTLE BIT OF SALES
I BELIEVE THAT THANKSGIVING IS
KICKS OFF HOLIDAY SHOPPING
SEASON MOST PEOPLE HAVE MONEY
TIME ON HANDS, THEY ARE GOING
TO SHOP, I AM NOT WORRIED AT
ALL THE CUSTOMER IS GOING TO
LEAD US OUT OF THIS.
DAGEN: HOW DO YOU -- THE
HOLIDAY SPIRIT ONLINE, PEOPLE
WANT DO WANT TO GO INTO STORES
BECAUSE PUTS THEM IN A MOOD,
PARTICULARLY, DURING THE
PANDEMIC SHUTDOWNS, GIVEN
SOMETHING O TO DO, WITH STORES
THAT ARE OPEN, NOW YOU’VE GOT
MUSIC, YOU HAVE ALL THE
DECORATIONS, HOW DO YOU CHANGE
THAT WITH ONLINE WHAT ARE SOME
RETAILERS DOING?
>> WELL, WE’RE ALL SPENDING A
LOT OF TIME ONLINE BEEN DOING
THAT FOR -- FOR -- FOR YEARS,
PANDEMIC HAS REALLY
CELEBRATING THAT, ARE SALES
ONLINE IN OCTOBER UP 29%, 29%!
VERSUS PRIOR PRE-PANDEMIC YEAR
LIVING ONLINE, WE ARE SEEING
CONSTANT ADS, IDEAS ABOUT WHAT
YOU CAN SPEND YOUR MONEY OWN,
BLACK FRIDAY HUNDREDS OF
TIMES, EVERY TIME THAT I EVEN
OPEN MY E-MAIL, SO -- YOU
KNOW, CONSUMERS KNOW WHEN IT
IS KNOW WHAT TIME OF THE YEAR
IT IS, CHRISTMAS ALWAYS COMES
IN THIS YEAR COMING MORE THAN
EVER, THE SPENDING WILL
DIFFER, I MEAN KEEP IN MIND
APPAREL SALES WAY IN THE
GUTTER DEPARTMENT STORES ARE
SUFFERING MIGHTILY, AND YOU
KNOW RESTAURANTS ARE -- BUT
MOST EVERYTHING ELSE RELATED
TO THE HOME ELECTRONICS EVEN
AUTOMOBILES, SALES GOING TO BE
GREAT SET A UP WITH VIRUS
PEOPLE JUST CAN’T TAKE IT
ANYMORE THEY ARE GOING TO DO
CHRISTMAS SOME DECLINES STORE
TRAFFIC ESPECIALLY BLACK
FRIDAY MAKE NO MISTAKE ABOUT
THAT YOU ARE GOING TO HAVO
OENL SALES STARTING AS I SAID
ONLINE SALES WALMART STARTING
WEDNESDAY NIGHT ALL DAY
THANKSGIVING, STORES GOING TO
BE CLOSED OPENING, IN PAST
YEARS ON THANKSGIVING DAY
THOUGHT GLOWING TO HAPPEN BUT
ONLINE SEELDZ ROCKING IT
THURSDAY USED ONLINE FRIDAY
HUGE ONLINE CYBER MONDAY
FOLLOWS RIGHT BEHIND, PAST
YEARS WHAT WE’VE SEEN A SLUMP,
AFTER CYBER MONDAY, GET CLOSER
TO CHRISTMAS WHAT I THINK
GOING TO HAPPEN
BRICKS-AND-MORTAR GOING TO
SPLAED SPREAD OUT CAN’T O
CROWD STORES BLACK FRIDAY MORE
STRENGTH IN DECEMBER, MORE
THAN WE’VE SEEN IN PAST YEARS
TO MAKE UP FOR IT ALL GOING TO
WORK OUT FINE, THROUGH THE
BEST INDICATOR WHAT CUSTOMERS
ARE GOING TO DO THE FUTURE
WHAT THEY ARE DOING NOW WHAT
THEY ARE DOING NOW IS
SPENDING.
>> MITCH ROSCHELLE JUMP IN.
>> JERRY GOOD TO SEE YOU THIS
MORNING I AM TRYING TO FIGURE
OUT IS WHO WILL WINNERS AND
LOSERS BE THIS IS A DIFFERENT
YEAR LIKE NO OTHER.
AND THE BRICK-AND-MORTAR
RETAILERS, YOU KNOW, HAVE TO
PIVOT AND CHANGE THEIR MODERNA
BUT AT THE END OF THE DAY,
WHEN WE ARE COUNT YOUING
CHIPPED IN JANUARY, WHO ARE
THE REAL WINNERS IN
BRICK-AND-MORTAR SPACE?
>> WELL, I THINK THIS IS OPEN,
ARE WE HAVE ALREADY SEEN THE
ANSWER.
GOING TO CONTINUE, SO, AMAZON
HAS, OF COURSE, DONE GREAT
CONTINUES TO KNOCK IT OUT OF
THE PARK THEY ARE THE DOMINANT
FOSTS ONLINE WHO ELSE IS GOING
TO WIN VALUE BASED RETAILERS
PROVIDE DIVERSITY OF NEED
INCLUDING THE NECESSITIES
DURING, THIS WALMART, TARGET,
COSTCO, GOING TO DO FANTASTIC,
HOME DEPOT LOWE’S I HAVE NEVER
SEEN THINGS WITH SEAMS NUMBERS
LIKE FROM THEM, DOLLAR
GENERAL, VALUE BASED, PLAYER
YOU ARE GOING TO SEE STRENGTH
PEOPLE LIKE TRACTORS --
>> APPAREL I LOVE TJ MAXX, YOU
SEE THEIR SALES AROUND THE OFF
VERY MUCH APRAREL OFF
BRICKS-AND-MORTAR COME ROARING
OUT DEPARTMENT STORES
FOLLOWING PART.
>> LEE CARTER?
>> YOU KNOW I THINK ONE OF THE
THINGS THAT I AM LOOKING FOR,
IS HOW, TO CONNECT, DURING
HOLIDAYS BECAUSE, NOT GOING IN
PERSON, AN INCREASE IN GIFT
GIVING, TRYING TO CONNECT WITH
PEOPLE, CONSIDER THAT END,
WHAT -- YOU EXPECT TO SEE
THERE?
>> HAVE YOU KNOW, EVERYTHING
HOME BASED HOME, HOME, HOME, A
COMFORT FEELING ABOUT IT, IT
WAS TRUE DURING THE PANDEMIC
AS WELL AS MORE AND MORE TIME
SO I THINK THAT KIND OF
DIRECTION, IF WE ARE GOING TO
SEE A HUGE SPIKE, IT IS
SOMETHING THAT -- THIS NOT
ONLY MAKES YOU HAPPY YOU GET
IT, BUT YOU CAN USE IT OVER
AND OVER AND OVER AGAIN TO
MAKE YOUR HOME THAT MUCH MORE
OF A SAFE COCOON.
>> RETAILER YOU MENTIONED
DEPARTMENT STORES WHEN
RETAILERS ARE IN DIRE STRAITS?
BECAUSE, AGAIN, AND WE ALSO
HAVE TO THINK ABOUT -- SAYING
DEPARTMENT STORES, AND ALL OF
THE SAY DESIGNERS WHO SUPPLY
THOSE DEPARTMENT STORES, THEY
TOO ARE HURTING AS WELL.
>> WELL, DEPENDS WHERE YOU ARE
POSITIONED DAGEN I GOT TO FELL
YOU AS MUCH -- I KNOW, I HAVE
BEEN APPAREL RETAILER MOST OF
MY CAREER VARIOUS WAYS YOU CAN
SEE WHAT IS GOING ON NOW I
KNOW PEOPLE LOVE TO GET
DRESSED UP TO GO OUT NO PLACE
TO GO RIGHT NOW.
AND SO, WHAT YOU ARE SEEING
GUYS ARE JUST GETTING
CLOBBERED PROBABLY, MACY’S
COMPS MORE THAN 20% LAST
QUARTER, KOHL’S DOWN 13%, THIS
IS JUST DEVASTATING TO THEM
THEY CANNOT MAKE IT UP ONLINE
BECAUSE PEOPLE DON’T WANT TO
APPLY OEM WHEN KNOWWHERE TO GO
WHAT IS GOING ON BIGGER
PICTURE U.S., TWO TO THREE
TIMES, RETAIL, ARE THAT WE
NEED PANDEMIC ACCELERATED,
OVER FIVE YEARS -- ALL PEOPLE
HAVE TO GO ABRUPT SO MANY ARE
APPAREL BASED RETAILERS WE
HAVE SEEN JUST STARTING,
GOINGS TO BE A LOT WORSE AFTER
HOLIDAYS WHEN THEY GOING TO BE
DON’T GET HOLIDAYS EXPECTED
CAN’T GET FINANCING WON’T HAVE
TURNAROUND AFTER PANDEMIC SOME
PEOPLE EXPECT THEM TO HAVE I
THINK APPAREL BASED TRAERLDZ
YOU NEED TO WATCH ONE OF THE
NEWS ALMOST EVERY WEEK,
FRANCESCA LAST WEEK TONS FOR
PEOPLE LIGHTED ON SHOPPING
MALLS FOR TRAFFIC CAN’T
GENERATE THEIR OWN CAN’T MAKE
MONEY SELLING ONLINE, IN HUGE
TROUBLE A LOT OF BRANDS IF
GOOD ENOUGH GOING VERTICAL
SAYING THE HECK WITH YOU I
DON’T NEED DEPARTMENT STORIES
ANYMORE I AM SELLING DIRECTLY
TO YOU AMAZING, DAGEN --
EXACTLY.
DAGEN: A LOT OF SMALL A LOT
OF SMALL APPAREL RETAILERS
THAT REALLY RELY ON THE
DISTRIBUTION, THROUGH
DEPARTMENT STORES AND THE
LIKE.
THAT THEY HAVE ONLINE PARENS
NOT ENOUGH TO OFFSET SALES
LOST FROM SAY THE DEPARTMENT
STORES, AND THEY’VE BEEN
CAUGHT FLAT-FOOTED,
DEVASTATING, TO WHOLE
GENERATION OF CREATORORS I
BELIEVE IN RESURGENCE BUT
REALLY, REALLY HORRIFIC OUT
THERE.
>> WILL TAKE MANY YEARS,
MEANWHILE, YOU MENTIONED
BEFORE DAGEN I HEARD YOU TALK
ABOUT MOM AND PONDS ARE IN
HUGE TROUBLE CANNOT KEEP UP
TECHNOLOGICALLY WITH WHAT IS
IS REQUIRED IN THIS ERA DO NOT
HAVE TANGENTIAL STABILITY TO
DO IT, A LOT OF TIMES VERY
SPECIALIZED IN AREA THAT IS
REALLY TAKING IT ON THE CHIN
DON’T SELL GROCERIES CAN’T
SELL YOU A BEAUTIFUL TSCHIRT
WHEN YOU ARE THERE OR
SOMETHING THEY ARE IN BIG
TROUBLE HUGE CONTRACTION IN
HAVE HANDS OF FEW BIG PLAYERS
A LONG TIME TOWN WIND.
>> I AM PERSONALLY TRYING TO
GET OUT SPEND MY MONEY, WITH
THE KIND OF SMALL STORES AS I
CAN.
RATHER THAN RELYING ON THE
LARGE ONLINE RETAILERS, AND I
WILL JUST POINT INT THIS OUT
TSA SAID THEY SCREENED IN
UNITED STATES, 1.05 MILLION
AIRLINE PASSENGERS SUNDAY,
HIGHEST SINCE MID-MARCH SO IF
YOU DON’T GET ON PLANE YOU CAN
GO OUT SHOP, AND YOU CAN YOU